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To: PaleskeDrAv who wrote (530)10/10/2007 11:07:45 AM
From: StockDung
   of 574
Krirkkiat gets another 20-year jail term

( - The Criminal Court on Wednesday handed down another 20-year jail sentence to Bangkok Bank of Commerce (BBC) former president Krirkkiat Jalichandra for embezzlement.

He is also fined for 16 million baht for colluding with two other bank executives in approving fund worth of more than 2 billion baht to Saudi arms dealer Adnan Khashoggi without asking for the board's consideration, which broke the rule of the central bank.

Ekachai Athikomnantha, another former senior executive of BBC, and Wanchai Thammanitiwat, the bank's former chief of the financial management division were the other two who were found guilty of embezzlement on the case and received the 20-year jail sentence.

The two were also ordered to pay fine of 16 million baht each.

Moreover, they were ordered to pay BBC for the amount of money they approved for Khashoggi, which was slightly more than 2 billion baht

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To: PaleskeDrAv who wrote (530)12/11/2007 11:28:31 AM
From: StockDung
   of 574
Adnan Khashoggi saves Citi Group:

"Through Representative Dodo Mandanas, Arroyo said controversial Saudi
billionaire Adnan Khashoggi and the Abu Dhabi Investment Corp. committed to
entering into $500-million worth of build-operate-transfer (BOT) projects for
economic zones in the Port of Batangas and Lipa Airport."

"Yesterday, Wednesday, Nov. 28, The Abu Dhabi Investment Corp. firmed plans to spend $7.5 billion and become the largest single share holder in Citigroup."

(UPDATE) OFWs did not support hotel siege--Arroyo
By Jerome Aning
Last updated 11:32am (Mla time) 12/11/2007

_Most Read_ (javascript:toggleLayer('mostreadlist');)

Other Most Read Stories _x_ (javascript:toggleLayer('mostreadlist');)
Global Nation
* _(UPDATE) OFWs did not support hotel siege--Arroyo_
* _Arroyo hopes life term brings 'small comfort' to Ranario kin_
* _Hope springs for kin of another OFW on Kuwait death row_

* _UAE seeks standardized contracts for foreign workers’_

* _New cop, dead hero_
* _Bohol seahorse sanctuary the best in Philippines_
* _Arroyo extends stay in Kuwait on Emir invitation_

* _Arroyo says strong peso not bad for OFW families_
* _Grapes and Alzheimer’s disease_
* _Manila Ocean Park to open in December_
( * _Pirates demand huge ransom or kill Japanese tanker crew--UN_

* _Certainly more deceptive_
_Global Nation Most Read RSS_
_Close this_ (javascript:toggleLayer('mostreadlist');)

MANILA, Philippines -- The shortlived takeover of the Manila Peninsula Hotel
in Makati City last month by a “desperate” and “misguided” group had no
support from Filipinos abroad, President Gloria Macapagal-Arroyo said Tuesday
after arriving from a weeklong trip to three countries.
“About the adventurism of some people, it is clear even among our foreign
friends that the actions of these few desperate men reveal just how out of touch

they are with the hopes and dreams of the average Filipino, even the
Filipinos abroad,” Arroyo said in her arrival statement.
“Filipinos both here and abroad want political stability, a bright economic
future and social justice. The actions of these misguided men undermine each
and every one of the genuine aspirations of real Filipinos. Instead of working
to bring the nation together within our democratic process, their actions
merely are fuel for selfish motives for personal gain,” she said.
She stressed that “the transgressor will not hold our nation hostage with
impunity,” that they will be “punished with the full force of the law,” an
that “justice will be served and the interests of the people upheld.”
Arroyo arrived at the Ninoy Aquino International Airport Terminal 2 around
1:15 a.m. after visiting Spain, the United Kingdom, and Kuwait. She was
welcomed by a crowd of about 200 people, mostly airport employees and
officials led by Executive Secretary Eduardo Ermita and Press Secretary Ignacio

She was greeted by applause when she recounted her trip to Kuwait, where
Sheikh Sabah al-Ahmad al-Sabah granted her appeal to commute the death sentence

of domestic helper Marilou Ranario, who has been convicted of murdering her
“I'm thankful for the compassion and understanding of the Emir, who, because
of our request -- and this [is] the first time this happened in the history
of the emirate -- promised not to proceed with the execution of Marilou
Ranario,” Arroyo said.
Arroyo said the Emir assured her that at the “right time” he would look into

the possibility of reducing Ranario's prison term.
Arroyo also relayed the results of her meetings with King Juan Carlos and
Queen Sofia of Spain, Spanish premier Jose Luis Zapatero, and Queen Elizabeth of

the United Kingdom. She said she was able to refresh the Philippines'
security, economic and diplomatic ties with what she regarded as “our
She said she recounted to the Spanish leaders her plan to return the teaching
of the Spanish language in the Philippines, saying these will improve
Filipino workers' competitiveness in a world that has seen the continuing rise
the use of the Spanish tongue.
In the UK, the President recounted her meeting with former Prime Minister
Tony Blair, who was involved in the Northern Ireland peace process and was now
helping in the Israeli-Palestinian peace talks.
“[We] exchanged views on world events and on the possibility that we might
learn something from him that we can apply in our peace process in Mindanao,”

she said.
In her visits to Spain, UK and Kuwait, Arroyo said she encountered Filipino
workers that have contributed to the economy of their host countries. She said
she thanked the Spanish and British monarchs for the good treatment given to
The President also said she and the other members of her delegation were able
to convince many businessmen to invest in the Philippines, thus create more
jobs and livelihood opportunities, particularly in the provinces.
Through Albay Governor Joey Salceda, Arroyo said the Banco Bilbao Vizcaya
Argentaria approved a possible 800 million euros in investment and suppliers'
credit for the Philippines, covering projects on renewable energy, modern ports
and other infrastructure.
Through Representative Dodo Mandanas, Arroyo said controversial Saudi
billionaire Adnan Khashoggi and the Abu Dhabi Investment Corp. committed to
entering into $500-million worth of build-operate-transfer (BOT) projects for
economic zones in the Port of Batangas and Lipa Airport.
Indra, a Spanish firm, would be expanding their information technology
operations in the Philippines and join biddings for the improvement of the
country's air traffic control system, while Bionor Transformacion signed an
agreement with the Philippine Agricultural Development and Commercial Corp. to
develop at least 100,00-hectares of Jatropha plantations in Palawan.
In London, Arroyo said the Mittal group reiterated its plan to put up a
$1.6-billion integrated steel mill in Iligan City while the Anglo American
conglomerate, relayed its continuing efforts to investing in the Philippine
As of posting time, Arroyo is presiding over a meeting of the
Legislative-Executive Development Council on proposed key legislations.
At noon, the President will preside over a meeting of the National
Anti-Poverty Commission, and at 2 p.m. she will attend a “stakeholders’
meeting” with
representatives of the education sector.
She is also scheduled to meet with Ranario’s family.
At 7 p.m., the President will attend the 100th anniversary of the Philippine
Columbian Association in Manila.With a report from Lira Dalangin-Fernandez,; Originally posted at 2:26am

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From: StockDung12/11/2007 11:37:05 AM
   of 574
29. $1.1 BILLION Adnan Kashoggi Saudi Arabia

The international arms dealer has swapped his business life for the celebirty jet set circuit in recent years.

The World's 50 Richest Arabs
1. $20.15 BILLION
Prince Alwaleed bin Talal Al Saud
Saudi Arabia

The Saudi Prince runs a business empire thar now streches across four continents. It has now also made him the world's fourth richest man.

2. $9,2 BILLION
Nasser Al Kharafi

The tycoon has made his fortune from range of industries, and now adding to it by helping rebuild Iraq.

3. $6.8 BILLION
The Olayan Family
Saudi Arabia

The Olyan Group started life over fifty years ago as small trucking group. Today it is a world class diversified industrials company.

4. $6.7 BILLION
The Bin Laden Family
Saudi Arabia

The Bin Laden Family run one of the world's most successful consturction companies.

5. $5.2 BILLION
Rafik Al-Hariri

The Prime Minister of Lebano is also one of the world's riches Arabs, thanks to the massive constuction group he owns.

6. $4.5 BILLION
Mahdi al-Tajir

Al-Tajir has benn rich for three decades. Nobody has made more money out of Dubai's status as a free trade port.

7. $4.1 BILLION
Abdul AZIZ Al Qhurair family

The tycoon owns the oldest bank in the UAE, and even his grandparents have a habit of making good money.

8. $3.8 BILLION
The Kanoo Family

The family is not shy to declare the scale of its wealth. It has produced a book on it.

9. $3.5 BILLION
Majid Al Futtaim

The Al-Futtaim Group split ar board level four yeares ago, with the founding brothers takeing separate divisions.

10. $3.4 BILLION
Abdulla Al Futtaim

The exclusive UAE dealership for several carmakers has helped turn Abdulla into a Dubai billionire. And he's getting even richer.

11. $3.35 BILLION
Saleh Al Rajhi
Saudi Arabia

The Al Rajhi family own one of the Gulf's biggest investment banks.

12. $3.3 BILLION
Khalid bin Mafouz
Saudi Arabia

Khalid Bin Mafouz has been stuck down by illness, leaving his family to look after the massive fortune he built up.

13. $2.95 BILLION
Mohamed Jameel
Saudi Arabia

Jameel not only runs the worl's largest Toyota dealership, he is also in charge of Saudi Arabia's bigges finance firm

14. $2.5 BILLION
Nadhmi Auchi

The tycoon is Itaq's richest man, though not without legal problems

15. $2 BILLION
Faisal Al Ayyar

Al Ayyar runs Kuwait's biggest private company, with operations in 70 countries.

16. $1.8 BILLION
Saudi Arabia
Sulaiman Bin Abdul Al Rajhi

The tycoon is one of four brother's sharing their banking family cash

17. $1.65Mohammed Al Amoudi
Mohammed Al Amoudi

He is the second largest invester in Sweden and Ethopia, owning a lavish hotel

18. $1.63 BILLION
Mohammed AL Fayed

Now 71 years old, there is no sign of the Egyption born tycoon slowing down.

19. $1.6 BILLION
Mohammed Bin Issa AL Jabber
Saudi Arabia

AL Jabber is the Saudi tycoon who likes to spend, spend and spend. Just ask fellow billionair Warren Buffett.

20. $1.5 BILLION
Wafic Said

The Mr Fixit of arams world has made a fortune over the last two decades.

21. $1.45 BILLION
The Al Shaya Family

The Al Shaya Group is over a century old. Its latest ventures is rolling out the Starbuckes brand in the Gulf.

22. $1.4 BILLION
Maan AL-Sanea

Maan Al-Sanea's background is in flying jets, but he gave it all up make a huge it all up to make a huge fortune in civil engineering.

23. $1.35 BILLION
Saleh Kamel
Saudi Arabia

Saleh Kamel has a passion for media. It is one that has cost him a small fortune along the way. But he hasn't stopped.

24. $1.3 BILLION
Al Zamil Family
Saudi Arabia

The family employs around 8,000 people in one of the Saudi Arabia's largest private enterprises.

25. $1.25 BILLION
Khalaf Al Habtoor

He is the pioneering builder behind the world fampous seven star Burj Al Arab in Dubai.

26. $1.2 BILLION
Mohamed Al Bahar

Al Bahra is widely seen as being the elder statesman of Gulf business.

27. $1.15 BILLION
The Dabbagh Family
Saudi Arabia

The Dabbagh Group was initially founded by Sheikh Abdulla Dabbagh in 1962, a former Saudi Minister for Agriculture.

28. $1.12 BILLION
The Jameel Family
Saudi Arabia

Abdul Latif Jameel runs a huge financial and motoring services group in Afria and across Asia

29. $1.1 BILLION
Adnan Kashoggi
Saudi Arabia

The international arms dealer has swapped his business life for the celebirty jet set circuit in recent years.

30. $980 MILLION
The Al Rostomani Family

The family started in business launching Dubai's first ever book shop Al-Ahliya library.

31. $950 MILLION
The Boodai Family

The family's latest money making vnture is the launch of low cost airline based in Kuwait.

32. $900 MILLION
Simon Halabi

The Syrian born property dealer has made the UK his home, and is buying more property in the country.

33. $800 MILLION
Naguib Sawiris

The tycoon is plannig a strike on the Iraqi mobile networks market, which will make him even richer.

34. $700 MILLION
Al Tayer Family

The family runs one of the most diversified industria groups in the Gulf, based in the UAE.

35. $630 MILLION
The Shoman Family

The family of the founder Arab Bank has kept the financial torch burning.

36. $610 MILLION
Mohammed Ali Alabbar

The chairman of Emaar properties has his hands in several other business pies across the world.

37. $600 MILLION
Mohammed Al Suwaidi
Saudi Arabia

Al Suwaidi runs a prominent Saudi based group which is looking at a stock market flotation.

38. $550 MILLION
Rashid AL Habtoor

The polo playing son of Khalaf Al Habtooe has made a fortune in his own right.

39, $520 MILLION
Saeb Nahas

Saeb Nahas made a packet trading with Saddam Hussein's former regime in Iraq for a number of years .

40. $510 MILLION
Othman Al Aa'di

When it comes to runnig fabulous hotels, no-one does it better than Othman Al Aa'idi.

41. $425 MILLION
Abdulrahman Saad Al Rashid
Saudi Arabia

Saad Al-Rashi is doing so well, he has just made a huge donation to open an Arab University in Hong Kong.

42. $420 MILLION
Mohammed Khalfan bin Kharbash

The chairman of the UAE's state owned telecomes provider is also the country's finance minister- and a very rich one.

43. $415 MILLION
Dr. Omar Al Zawawi

Textiles and industrial goods have helped make Oman's special represntative for foreighn affairs a wealthy man.

44. $410 MILLION
Iskander Sada

He left war torn lebanon ar age of 22, and made his cash by arranging business deals for western companies.

45. $380 MILLION
Mouna Ayoub

Divorced four years ago and Ayoub's pay off, plus the assests she kept, have made her one of the world's richest Arab women.

46. $350 MILLION
Sam Hamman

He was born in Lebanon but made his mark in the UK by taking over small soccer clubs.

47. $310 MILLION
Fawaz Zureikat

The oil for food programme was by the Iraqi regime, with many benefactors.

48. $300 MILLION
Ahmad Zayat

Ahmad Zayat's company made its big money in the Middle East by promoting non-alcoholic beer.

49. $300 MILLION
The Alizera Family
Saudi Arabia

The family has made its cash from number of ventures, with a history dating back over 100 years.

50. $215 MILLION
Ramy and Michael Lakah

The infamous Egyption brothers are extremely rich, but have run into trouble recently.

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To: PaleskeDrAv who wrote (530)1/2/2008 2:12:47 PM
From: StockDung
   of 574
Gold mine claim lures investors - and investigators

American Metal Market > March 9, 1987
Barry Brown
Gold Mine Claim Lures Investors--and Investigators

It is no secret that the gold rush under way in the mining industry today is not analagous to the gold rushes of past decades. Rather, those firms faced with prices, and consequently profits, for base metals in the doldrums, have turned to the lustrous metal to brighten their corporate bottom lines. The facts are quite obvious.

The average world cost to mine gold these days is about $200 a troy ounce. International gold prices have been hovering around the $400-pertroy-ounce mark. Not a bad profit for one's investment.

But the word has leaked out to the general public and now everyone wants into the act, including those who believe you can make fortunes on fool's gold.

The Gannett Westchester (N.Y.) newspapers and the Denver Post recently published an article we thought would tickle the funny bone of any historical buff in the metals business.

We are printing the full text of the story here so that you can decide if this is a good mining investment.


The opportunity to buy shares in a company with rights to the legendary King Solomon's Mines, from which the Biblical king was said to have received huge offerings daily, may sound too good to believe.

But when Saudi Arabian billionaire Adnan Khashoggi, once reported to be the richest man in the world, becomes chairman of the Denver-based firm making the claims, investors--and investigators --are not too far behind.

News of the rich mines, which Khashoggi, a figure in the U.S.-Iran arms deal, says were discovered in the West African country of Mali on property owned by Denver-based Mali-American Mines Ltd., also caught the attention of Vancouver Stock Exchange officials.

The exchange, which halted trading in shares of a Canadian mining company involved in the deal, is looking into whether the mines actually exist.

Vault Explorations Ltd., a small British Columbia gold exploration company, began trading on the Vancouver exchange Nov. 20 and rumors began to circulate that the firm would become a partner with the Khashoggi-associated American company that owned the so-called "King Solomon's Mines.'

Although Vault had done nothing more than announce it had drilled a few exploratory wells near Kamloops, British Columbia, the company's stock soared from 25 cents to 48 cents (U.S.) in its first seven days of trading, with 450,000 shares changing hands.

On Jan. 5 the price was up to $1.39. The next day Vault rose from $2.08 to $2.50 a share in 18 minutes of hectic trading, bringing the stock to 10 times its opening value. Because of the price jump, Vancouver exchange officials ordered a temporary trading halt pending additional information on Vault's rumored partnership with Mali-American.

On Jan. 7, the day after trading was halted, the stock exchange made public a news release issued by Vault and Khashoggi, representing Mali American. The release said that Mali, of which Khashoggi is chairman, had found an enormous reserve of "gold, diamonds and other precious metals' in Mali and that 95 million shares in the venture holding "the legendary King Solomon's Mines' would be sold through Vault.

Khashoggi also said in the release that the Mali reserves will bring prosperity to Mali and help stabilize world finances.

In an accompanying news release, Vault president Maurice Hamellin explained that Mali-American would gain control of Vault through a complex stock swap "equal to the amount of recoverable gold and diamond reserves' in the Mali mines. The agreement stipulated that Hamellin sell his majority interest of 750,000 shares in Vault to Mali-American for 2 cents a share, or $15,000.

Unsatisfied with the information coming from Vault, the Vancouver exchange sent the case on Jan. 12 to the British Columbia Superintendent of Brokers, Michael Ross.

Ross says all he has received from Vault so far is a geological report that he describes as full of "uncertainty, fluff and fuzz.'

The stock exchange's investigation into Vault follows an ongoing investigation into two other Khashoggi-associated Canadian companies, Tangent Oil & Gas Ltd. and Skyhigh Resources Ltd.

Two of Skyhigh's directors, Donald Fraser and Walter Ernie Miller, have been implicated in Khashoggi's Iran arms financing.

Between November 1985 and January 1986 Vertex Finances S.A. and Euro Commercial Finances B.V., the two Cayman Island-based companies controlled by Fraser and Miller, loaned Khashoggi $30 million. Part of that money allegedly was used by Khashoggi to help provide financing for one of the arms sales.

Khashoggi is reported to be assetrich and cash-poor, with more than $150 million in debts and a growing list of lawsuits.

But Paul Esquivel, a mining analyst with Davidson Partners of Toronto, says that when people hear that Khashoggi is involved with a company "everybody from dentists to board directors wants in. They're convinced the stock will go up.'

In reality, Esquivel says, promoters play up an alleged Khashoggi involvement, and trading in the stock exchange becomes "like a pyramid game where the little guy gets burned.'

Esquivel says promotional claims about stocks usually have some basis in fact, and because it isn't illegal to say you have found what may be King Solomon's mines a lot of people are going to invest on the hope it may turn out to be true.

"You can make a lot of money from nothing,' he said. "It's done all the time.'

COPYRIGHT 1987 Reed Business Information
COPYRIGHT 2004 Gale Group

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To: DrAvPaleske who wrote (518)1/8/2008 3:59:21 PM
From: StockDung
   of 574
L. H. Ross also fond of GENI


Claimant asserted the following causes of action: breach of the Tennessee Consumer
Protection Act; fraudulent misrepresentation; negligence; and breach of fiduciary duty. The
causes of action related to Claimant's assertion that L.H. Ross, Dunne and Redding made
certain misrepresentations regarding the purchase of various securities including ABF New
Century Financial and Genesisintermedia, Inc.

From: To: Award Type: All Awards FINRA NASD NYSE Pacific Exchange AMEX PHLX MSRB
Case Number or Document Text:
By selecting this box, I agree to the Terms of Use.
1 match found

sort by: date of award descending date of award ascending
1. 03-02884
Extract: AWARD NASD Dispute Resolution In the Matter of the Arbitration Between Claimant Floyd E. Austin and Case Number: 03-02884 Hearing Site: Nashville, Tennessee Respondents L.H. Ross & Company, Inc., Peter C. Dunne and Gary J. Redding NATURE OF DISPUTE Customer v. Terminated Member and Associated Pers
Size: 225358 bytes
Date of award: 07/06/2006

CONTACTS: Wednesday, January 19, 2005

Nancy Condon (202) 728-8379

Herb Perone (202) 728-8464

NASD Panel Expels Florida Brokerage LH Ross, Orders Nearly $12 Million in Fines, Restitution; Issues First Permanent Cease and Desist Order

Violations Involve Fraudulent Activities Relating to Unregistered Self-Offerings, Obstructing NASD Investigation by Failing to Provide Financial Documents

Panel Cites “Widespread, Significant and Identifiable Customer Harm,” Terms Future LH Ross Sales Solicitations “Extreme Threat to the Investing Public”

Washington, DC – An NASD Hearing Panel has expelled Boca Raton, FL-based brokerage LH Ross for fraud and other violations related to the sales of unregistered self-offerings that the panel called “little more than a scheme to defraud investors.” The panel ordered the firm to pay a $500,000 fine, more than $11 million in restitution to investors, prejudgment interest of at least $450,000 and hearing costs of more than $18,000.

The panel also imposed NASD’s first-ever permanent cease and desist order, which replaced the temporary cease-and-desist order (TCDO) that NASD imposed in August 2004 to stop LH Ross’s ongoing fraudulent and illegal sales activities. This case represents the first time NASD has used its TCDO authority, which was approved by the SEC in June 2003.

The Hearing Panel found that LH Ross brokers, acting with the intent to “deceive, manipulate or defraud investors,” made material misrepresentations and failed to provide important information to investors in connection with private sales of LH Ross stock in 2003 and 2004. At least 150 investors in 27 states purchased the preferred stock. The panel also found that LH Ross invested at least one customer’s funds in the firm’s stock without that customer’s knowledge or consent.

“In essence, LH Ross operated a boiler room,” the panel’s decision said. “The firm engaged in a concerted, high-pressure telephone campaign to sell unregistered securities in the form of units of convertible preferred LH Ross stock, showing little concern for the customers’ investment needs or objectives. The firm employed false and deceptive means to solicit customers, who had no independent way to verify representations made by the brokers about the firm… This case involves widespread, significant and identifiable customer harm, and the panel believes that LH Ross and (its president) have retained substantial ill-gotten gains.”

According to the panel’s decision, LH Ross’s transgressions include: a pattern of failing to send the private placement memorandum to customers or sending it well after the purchase; failing to reflect the acquisition of preferred stock on customers’ monthly account statements; telling customers their investment had doubled without divulging that the firm had simply doubled the price of the preferred stock in another offering; making additional material misstatements to customers who posed questions about the offering; completely ignoring many customer complaints about the offerings; and dissipating or misappropriating a significant portion of the millions of dollars raised in the self-offerings, “which appear to be little more than a scheme to defraud investors.”

The panel also noted that LH Ross and Franklyn Michelin – the firm’s CEO, CFO, COO, President and Chief Compliance Officer – had knowingly hired several brokers from firms with regulatory problems, including abusive sales practices. One of those individuals, who was hired as vice president for investment banking, was awaiting sentencing for his felony conviction for conspiracy to commit mail and wire fraud. The panel said Michelin knew from customer complaints he had received personally that his salesman were making false claims, but took no corrective action.

“Respondent’s argument that it is not responsible for fraud committed by its registered representatives – particularly under these circumstances – is utterly specious,” the panel said in its decision.

The Hearing Panel found that LH Ross failed to respond to repeated NASD requests for information and documents related to funds raised during the private placement offerings and how those funds were used. Among the information LH Ross failed to provide: the name of the escrow and/or bank account in which proceeds from the preferred stock sales were deposited; the financial institution at which the account is held; the account number; the person or persons with authority to withdraw funds from the account; the date and amount of withdrawals from the account; and to whom the withdrawals were payable.

In its decision, the panel said it “believes that Respondent’s lack of cooperation was an attempt to obstruct NASD’s investigation of this ongoing fraud.” Noting that to date, LH Ross has “offered no reasonable explanation for its complete failure to respond… the panel concludes that the Respondent has refused to provide the requested information because it does not exist or contains information that is detrimental to the firm.”

In imposing the permanent cease and desist order prohibiting LH Ross from engaging in a wide range of activities, the panel said, “Any future attempt by LH Ross to solicit customers to invest in unregistered securities issued by the firm poses an extreme threat to the investing public.” In imposing an obligation on the firm to pay restitution of over $11 million and prejudgment interest, the panel rejected Michelin’s assertion that all of the money raised had been spent on business related activities.

The Hearing Panel’s decision can be appealed to the NASD’s National Adjudicatory Council (NAC) within 25 days. NAC decisions can be appealed to the Securities and Exchange Commission (SEC). SEC decisions can be appealed to U.S. District Court.

NASD is the leading private-sector provider of financial regulatory services, dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. NASD touches virtually every aspect of the securities business - from registering and educating all industry participants, to examining securities firms, enforcing both NASD rules and the federal securities laws, and administering the largest dispute resolution forum for investors and member firms. For more information, please visit our Web site at

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Web Results 1 - 10 of about 19 for "l. h. ross" mafia. (0.34 seconds)

Schemes That Blackened Industry
They also used New York and Russian mafia members as protection. ... Founded L.H. Ross in 1994, and was expelled from NASD membership in 2004. ... - 42k - Cached - Similar pages

Financial News Discussion :: View topic - Mob Boiler Room Scheme
Among those nabbed by the FBI yesterday were reputed Mafia capo Joseph ..... Between 1999 and 2002, Ferragamo worked at the brokerage firms L.H. Ross & Co. ... - 86k - Cached - Similar pages

CourtDocs | News and documents from U.S. Courts, among other places
... Couch and Company, Inc., L.H. Ross & Company, Inc., and Yankee Financial Group, Inc. ... Tags: mafia, mob, organized crime, fbi, nyc, new york, genovese ... - 65k - Cached - Similar pages

CourtDocs | Colombo and Luchese Figures Admit Boiler Room Scheme
... Inc., Couch and Company, Inc., LH Ross & Company, Inc., and Yankee Financial Group, Inc. ... Tags: mafia, luchese, colombo, stocks, fraud, boiler room ... - 31k - Cached - Similar pages

File Format: PDF/Adobe Acrobat - View as HTML
organization known by various names, including the “mafia” and “La ...... callers at LH Ross, who used the telephone to sell LH Ross ... - Similar pages

There will be many true stories about the Mafia, The Mob, the Guys on Sunset, The Outfit and .... 15 brokers at LH Ross and Company, alleged in Racketeering ... - 66k - Cached - Similar pages

Hollywoodmafia: September 2007
... crime figures and groups in California. There will be many true stories about the Mafia, The Mob, the Guys on Sunset, The Outfit and some Gangs. ... - 188k - Cached - Similar pages
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GangstersInc's: Mobbed Up Forum -> Colombo Crime Family
... Inc., LH Ross & Company, Inc., and Yankee Financial Group, Inc. ..... The son of dead Mafia informant Gregory Scarpa admitted to investigators he helped ... - 141k - Cached - Similar pages

GangstersInc's: Mobbed Up Forum -> Colombo Crime Family
An infamous piece of Mafia history - the 1971 hit on Joe Colombo - will be ..... Inc., L.H. Ross & Company, Inc., and Yankee Financial Group, Inc. ... - 155k - Cached - Similar pages
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Finance scandals show frailty of Italian politics
... promised to try to limit the practice in future to just terrorism and Mafia probes. ... LH Ross' Michelin pleads guilty to fraud, DDPETER, 8/19/05 4:39 ... - 32k - Cached - Similar pages

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To: PaleskeDrAv who wrote (530)1/10/2008 1:21:08 PM
From: StockDung
   of 574
TV investment adviser goes on trial
From wire service reports
Article Launched: 01/08/2008 09:01:22 AM PST

Television commentator and investment adviser Courtney Smith is scheduled to go on trial today, accused of participating in a stock manipulation scheme that resulted in the loss of $130 million.

Smith was named in a Feb. 7, 2005, U.S. Securities and Exchange Commission complaint. His trial in U.S. District Court in downtown Los Angeles is expected to last about five days.

Smith has made frequent appearances on CNN, Fox News Channel, CNBC and Bloomberg TV offering financial advice and stock tips.

The SEC complaint alleges Smith played a role in an unlawful scheme to manipulate the stock price of the now-defunct Van Nuys-based public company, GenesisIntermedia, Inc. (GENI).

When the scheme collapsed in September 2001, the company's stock price plunged, resulting in the bankruptcy of three brokerage firms and the largest bailout in the history of the Securities Investor Protection Corporation, the SEC alleges.

As Smith's punishment, the SEC is seeking civil penalties, a permanent injunction against him as well as an accounting of all the money he obtained as a result of his alleged illegal conduct.

In a separate criminal case related to the alleged scheme, the U.S. Attorney's Office pursued charges against Smith in 2005. After a 12-day trial the following year, Smith was acquitted on all 11 counts against him.

The SEC alleges that the scheme took place between September 1999 and September 2001 and that Smith was aided by a Saudi national reputed to be an international arms dealer and financier.

Another participant in the alleged scheme -- GENI's chief executive officer -- secretly paid Smith for touting GENI stock on television, thus creating demand for the stock, according to the SEC's complaint.

The SEC also claims that Smith knowingly made a series of false and misleading statements about GENI's performance outlook on Wall Street in order to artificially drive up its stock price.

In return for his part in the scheme, the SEC alleges that Smith was paid more than $800,000.

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To: PaleskeDrAv who wrote (530)1/10/2008 1:21:43 PM
From: StockDung
   of 574
Adnan Khashoggi 'to Invest in Grand Canal Project'

Saudi entrepeneur Adnan Khashoggi

President-elect Lee Myung-bak has reportedly contacted the billionaire Saudi arms dealer and businessman Adnan Khashoggi, who has expressed an interest in investing in Lee’s cross-country canal project and the Saemangeum development project. A Lee aide said a member of the presidential Transition Committee met with a representative for Khashoggi, who is said to be planning a press conference on his decision to invest in Korea.
Khashoggi started his career as an agent for Lockheed Martin and built his fortune as an arms dealer and oil exporter. In 2000, he planned to build an international tourism and leisure complex in Ahnmyeon Island, South Chungcheong Province, but the plan was thwarted. According to a Lee aide, Khashoggi had close relationships with former president Park Chung-hee and is forming new business ties with the president-elect, whom he “regards as a second President Park.”

Lee also contacted multinational investors based in the U.S. and China, who are reportedly willing to put US$10 billion into Korea.

Meanwhile, Lee will send Sagong Il, head of the national competitiveness special committee of the presidential Transition Committee as an envoy to the Davos Forum. He will also dispatch Yoon Jin-shik, a former minister of commerce, industry and energy, to Japan. Yoon, the head of an investment taskforce in the competitiveness team, will brief Japanese lawmakers about the new government’s policy directions.

Lee also sent a letter to the crown prince of Abu Dhabi, asking him to choose Korea’s first supersonic military trainer jet T-50 as the United Arab Emirates’ next-generation trainer aircraft.

( )

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To: PaleskeDrAv who wrote (530)2/1/2008 4:45:27 PM
From: StockDung
   of 574
Adnan Kashoggi, British warrant out for his arrest.

UBS deal died over unexplained money

The reluctance of a top Swiss bank to help Indian investigators is slowing the unravelling of an intricate multinational trail of money transfers between an Indian horse owner and a fugitive Saudi arms dealer Urvi Mahajani, Manish Pachouly and Yogesh JoshiMumbai / Pune: The reluctance of a top Swiss bank to help Indian investigators is slowing the unravelling of an intricate multinational trail of money transfers—across Switzerland, New York, the British Virgin Islands and Pune—between an Indian horse owner and a fugitive Saudi arms dealer, according to officials in the Enforcement Directorate, the government body that investigates economic crimes.

A top official in the Enforcement Directorate (ED) who did not wish to be identified confirmed on Friday that the agency’s officials, in December 2007, had advised the Indian government not to clear a Rs467 crore plan by UBS (United Bank of Switzerland) AG, the world’s biggest wealth management company, to buy the Indian mutual fund business of Standard Chartered Bank because the Swiss bank had not helped track international money transfers of Pune horse owner Hassan Ali Khan.
Investigators from the ED, who recently claim to have found $8 billion in the Swiss bank accounts of Hasan Ali Khan, say they now have evidence of a $300 million transfer to him (via a Chase Manhattan bank account in New York) from billionaire Saudi arms dealer Adnan Khashoggi, whose arms supplies to Tamil terrorists, the LTTE, were revealed during an investigation into the 1991 assassination of Rajiv Gandhi.
Home turf: Hassan Ali Khan (second from right, in safari suit) with wife Rheema (second from left) and father-in-law Abbas Ali Khan (fourth from right). As the Bombay high court hears an Enforcement Directorate plea not to return passports to Khan and his wife Rheema, the Hindustan Times has previewed a secret ED report that reveals the agency’s attempts to find the links between Khan and Khashoggi.
As evidence the report quotes a notation, “funds from weapon sales”, made by UBS AG, a top-tier investment banking and securities firm, after it froze an account belonging to Hassan Ali Khan, the Pune horse owner, following the $300 million transfer to him—it isn’t clear when— from Khashoggi.
“I would not like to talk about this,” said UBS India managing director and chairperson Manisha Girotra, referring all questions to the bank’s spokesperson.
“As a truly global entity, our policy on such issues is to comply with the laws and regulations in each host country, while at the same time, complying with the banking laws in Switzerland,” the UBS spokesperson said in an email. The spokesperson declined to comment specifically on the arms sale notation.
The government has told the Bombay high court that the Khans are “virtually absconding” and if they are allowed to leave India, investigations could collapse. Khan’s counsel, Milind Sathe, said his client “regularly appeared before the Directorate”. Asked where Khan was, his main lawyer, Mugdha Jadhav, said: “Can’t tell you, sorry.”
At Pune race course, HT found Hassan Ali Khan’s father-in-law, Abbas Ali Khan, who said his son-in-law was “not well” and in Mumbai. He dismissed all allegations.
Hassan Ali Khan has three Indian passports—issued from Pune, Patna and Mumbai; he also applied for passports from Guwahati and Chandigarh— and he and his wife have applied to Switzerland for citizenship, another ED official who did not wish to be identified said. Passport authorities in those three cities are now trying to find out how three passports were issued to Khan.
Kashoggi now lives a quiet life in the principality of Monaco. There is a British warrant out for his arrest.
Another top official at ED who also did not wish to be identified said Kashoggi’s $300-million transfer was “only the tip of the iceberg” and that the agency was trying to connect the dots in the global trail, which also includes evidence of another $290 million in two “fictitious companies” created by Hassan Ali Khan and a friend in the British Virgin Islands in the Caribbean. All the money transfers are recorded in a laptop seized in January 2007 from Hassan Ali Khan’s house in Pune and while investigators believe this is laundered money, there is no direct evidence. They would also need corroboratory evidence to establish that these transfers have anything to do with terror networks.
“These are all false allegations,” said Sathe. Asked about the $300 million transfer from Khashoggi, he said: “When the Enforcement Directorate questions us, we shall give a reply.”
The ED official, who confirmed the agency’s involvement in spiking UBS’ deal with Standard Chartered, said the Swiss bank had told Indian investigators to get a letter rogatory, a formal request from an Indian court to a Swiss court. This is a complicated process and would have needed to be routed through the ministry of external affairs, and it would have involved finding and presenting clear evidence of Hassan Ali’s links to terror.
It now seems apparent that UBS’ stand in the ongoing investigation led to the collapse of its deal with Standard Chartered Bank.
In a December report, Mint said that the Reserve Bank, India’s banking regulator, would not approve the deal because of possible money laundering through the Swiss bank involving certain transactions of Khan. On Friday, RBI declined to comment. “We are a civil body,” a spokesperson said. “Whenever we find violations, issued to be investigated, we hand over the information to the Enforcement Directorate. We have not issued any comments on the issue of UBS.”
In December, Standard Chartered, the parent of Standard Chartered Bank in India, sent a notice to stock exchanges in London and Hong Kong, where it is listed, saying it would not proceed with the deal, without giving a reason.(Hindustan Times)
Copyright © 2007

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To: PaleskeDrAv who wrote (530)2/6/2008 12:54:51 PM
From: StockDung
   of 574
RBI puts UBS licence on hold, appoints finance ministry official on its panel news

06 February 2008

Mumbai: The Reserve Bank of India (RBI) has put on hold a banking licence to Swiss banking giant UBS AG, because of its reluctance to co-operate with the authorities to trace multinational money transfers - across Switzerland, New York, the British Virgin Islands and Pune - between Indian stud farm owner Hasan Ali Khan and a fugitive Saudi arms dealer Adnan Khashoggi.

The RBI also appointed Arun Ramanathan, secretary (financial sector) of the union finance ministry, to one of its committees on the financial sector.

The committee will assist the central bank on financial sector assessment, the central bank said in a statement.

The central bank also rejected UBS deal to buy the Indian mutual fund business of Standard Chartered Bank for Rs467 crore ($118.2 million).

Standard Chartered, which is focusing on its core banking operations, said it has received several bids for its 75 per cent stake in an Indian mutual fund business.

The Asia-focused British bank has been hunting for fresh buyers for the fund operations after a proposed $118 million deal with UBS AG fell apart in December due to regulatory delays.

UBS was ready to commence its banking operations in India and had already identified a premise to open its branch, sources familiar with the developments said.

UBS is present in India through its broking and investment banking arm UBS Securities India Pvt. Ltd. It also runs a private wealth management business and an offshore unit in Hyderabad.

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From: StockDung4/9/2008 10:31:03 AM
   of 574
Even though no one seems to be trying very hard to find him, Khashoggi is currently a fugitive from justice in the case.

At one time, Khashoggi's chief lieutenant and fellow Saudi swindler, Ramy El-Batrawi, former President of Jetbourne, a Miami CIA proprietary which flew Oliver North's TOW missiles to the Iranians during the Iran Contra Scandal, owned both DC9's later owned by SkyWay.

Small world.

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